when

Coin

<ul class="news-points"> 
 <li>Lemma Technologies has backed down from a bankruptcy deal over an FTX distressed asset.</li> 
 <li>Lemma refused to continue transacting with Attestor following the skyrocketing value of an acquired asset.</li> 
 <li>Attestor has filed for the Court to compel Lemma to proceed with the transaction. </li> 
</ul> 
Lemma Technologies, a Panamanian firm controlled by an embattled South Korean trader, has backed down from a bankruptcy deal over an FTX distressed asset. According to reports, Lemma refused to continue with the transaction following the skyrocketing value of the asset it acquired after FTX failed. 
A Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-03-18/london-fund-s-ftx-bankruptcy-windfall-mired-in-legal-battle" target="_blank" rel="nofollow">report</a> revealed that profits from the distressed FTX assets multiplied rapidly. Assets bought at rock-bottom prices from desperate clients of Sam Bankman-Fried are delivering about 100% of the money frozen in FTX when it failed. 
In Lemma’s case, the firm agreed to a $58 million sell price with Attestor Ltd., a boutique London firm specializing in trading distressed assets, last June on an acquired asset. Following the rallying prices, Attestor told the court that Lemma was withdrawing from the deal due to “seller’s remorse.” Both parties expect the asset to pay up to $16…
The post <a href="https://coinedition.com/renowned-investors-entangled-in-legal-battle-over-ftx-bankruptcy-claims/">Renowned Investors Entangled in Legal Battle Over FTX Bankruptcy Claims</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Renowned Investors Entangled in Legal Battle Over FTX Bankruptcy Claims

Coin Edition

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